LEARNING TO RECONGNIZE MONEY LAUNDERING TYPOLOGIES - 2023
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n the past years, the domain of Money Laundering and Financing of Terrorism has become more and more specialized and professionalized. Meanwhile, a new type of criminals surfaced to the horizon, namely professional money launderers (PML). These PMLs use more and more specialized AML/CFT-techniques, and are using different professionals, such as Designated Non-Financial Businesses, and Professions (DNFPBs). Think of diamond dealers, company service providers, real estate agents, legal professions (lawyers, notaries, bailiffs, and so on), cipher professions (company revisers, accounts, tax specialists, and more) and financial institutions (banks, i
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LEARNING TO RECONGNIZE MONEY LAUNDERING TYPOLOGIES - 2023
- 1. 1 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 RECOGNIZING MONEY LAUNDERING TYPOLOGIES GEERT DELRUE UPCOMING LIVE WEBINARS 5 MODULES 1 © G. DELRUE - 2023
- 2. © G. DELRUE - 2023 2 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES MODULE 1 : Introduction AML/CFT “Sharing knowledge is increasing efficiency " Composition of the training program MODULE 2 : Typologies – PREDICATE CRIMES – (NON-) FINANCIAL CRIMES MODULE 4 : Typologies – MODUS OPERANDI MODULE 5 : ANALYSIS - CASES MODULE 3 : Typologies – PREDICATE CRIMES – CYBERCRIME
- 3. © G. DELRUE - 2023 3 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES
- 4. 4 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 4 All my statements are my own responsibility and do not represent the position of the organization where I work
- 5. © G. DELRUE - 2023 5 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES MONEY LAUNDERING LAYERING INTEGRATION INJECTION ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML
- 6. 6 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 6 © G. DELRUE - 2021 6 MODULE 1 Inleiding AML/CFT
- 7. © G. DELRUE - 2023 7 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES 1. Introduction “Sharing knowledge is increasing efficiency " Table of contents – MODULE I 01 Objectives of the training 05 Why launder? Financial Action Task Force - FATF 15 02 Crime time line (contextualization) 06 Money Laundering in history 08 Economic and social consequences of Money Laundering 04 What is Money Laundering? 07 What makes Money Laundering attractive to criminals? 09 Money Laundering model : three phases 10 Risk-Based Approach - RBA Fighting Money Laundering : stakeholders 11 AML/CFT stakeholders – preventive empirical framework – (inter)national 13 AML/CFT stakeholders – preventive empirical framework - international 14 03 Organization of the fight against ML/FT AML/CFT stakeholders – legal framework 12
- 8. © G. DELRUE - 2023 8 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES Table of contents – MODULE I 17 Foreign FIU’s 21 IMF – OECD – RUSI – BASEL INSTITUTE ON GOVERNANCE Interpol 30 18 European Union 22 AML/CFT stakeholders – preventive empirical framework - national 24 Control and supervising AML/CFT authorities 20 World bank 23 Reporting entities 25 National Bank Financial Markets and Services Authority - FSMA 26 AML/CFT stakeholders – repressive empirical framework – (inter)national 28 19 Council of Europe- MONEYVAL Financial Intelligence Unit - FIU 27 Egmont Group 16 AML/CFT stakeholders – preventive empirical framework – international 29 1. Introduction (continuation)
- 9. © G. DELRUE - 2023 9 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES Table of contents – MODULE I 32 Eurojust 36 Reporting, investigating and prosecuting chain 33 AML/CFT stakeholders – preventive empirical framework - national 37 Professional Scepticism and Money Laundering 39 Delineation of the subject of the training 35 Justice department 38 Relation between Money Laundering and Financing of Terrorism 40 Categories of Money Laundering Typologies 34 Police Europol 31 1. Introduction (continuation)
- 10. © G. DELRUE - 2023 10 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES 2. Money Laundering typologies 01 Money Laundering categories Typology according to the strategy 06 03 Typology according to the Money Laundering phase 02 Typology according to the reporting entity 04 Typology according to the breach of AML/CFT code 05 Typology according to the professional obligations Typology according to the predicate crimes 08 Typology according to the modus operandi 09 07 Typology according to the judgements Table of contents – MODULE I
- 11. © G. DELRUE - 2023 11 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES 3. Resume Table of contents – MODULE I
- 12. 12 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 12 MODULE2 Typologies PREDICATECRIMES (NON)FINANCIAL CRIMES 12 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023
- 13. 13 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 1. Introduction Table of contents – MODULE II 01 Objectives of the training 02 Crime time line (contextualization) 05 Money Laundering model : three phases AML/CFT stakeholders – fighting Money Laundering 07 AML/CFT stakeholders – preventive empirical framework - international 08 06 Risk Based Approach - RBA 03 Organization of the fight against ML/FT 04 What is Money Laundering – criminological description AML/CFT stakeholders – preventive empirical framework - national 09 Reporting entities 10 Controlling and supervising authorities 11
- 14. 14 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 1. Introduction (continuation) Table of contents – MODULE II 12 Financial Intelligence Unit- CFI 13 AML/CFT stakeholders – repressive empirical framework - international 16 Justice department Professioneel Scepticism 18 Relation between Money Laundering and Financing of Terrorism 19 17 Reporting, investigating and prosecuting chain 14 AML/CFT stakeholders – repressive empirical framework - national 15 Police Money flow - origin 20 Money flow - destination 21 Delineation of the training 22
- 15. 15 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE II 2. Non-financial crime 01 Introduction 04 Categories of non-financial crime 03 Types of non-financial crime 10 How does Human Smuggling happen? 02 Financial crime versus non-financial crime 05 Trafficking of Human Beings versus Smuggling of Human Beings 06 Multidisciplinary approach – stakeholders – preventive approach 07 Trafficking of Human Beings versus Human Smuggling – crime time line 08 What is Human Smuggling? 09 Contextualization of the issue of Human Smuggling 11 Human Smuggling - organization 12 Human Smuggling – financial flow
- 16. 16 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE II 2. Non-financial crime (continuation) 13 What is Human Trafficking – criminal code 16 Who are the victims? 15 What does Human Trafficking look like – organizational process 14 What is Human Trafficking - types 17 Who are the Human Traffickers? 18 Example – Human Trafficking – organized sexual exploitation 19 Drugs Trafficking 20 How are drugs being paid – financial flows 21 What is the destination of the drug proceeds?
- 17. 17 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE II 01 Introduction Semi organized financial crime 06 04 Categories of financial crime 03 Types of financial crime 05 Simple financial crime 07 Organized financial crime 08 How can we explain financial crime? 09 Vertical and horizontal crime 10 Vertical crime 11 Horizontal crime 12 Organized cybercrime 02 Financial crime versus non-financial crime 3. Financial crime
- 18. 18 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 4. Resume Table of contents – MODULE II
- 19. 19 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 19 MODULE 3 Typologies PREDICATE CRIMES – CYBERCRIME
- 20. 20 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE III 1. Introduction 01 Objectives of the training 02 Crime time line (contextualization) 05 Money Laundering model : three phases AML/CFT stakeholders – fighting Money Laundering 07 AML/CFT stakeholders – preventive empirical framework - international 08 06 Risk Based Approach - RBA 03 Organization of the fight against ML/FT 04 What is Money Laundering – criminological description AML/CFT stakeholders – preventive empirical framework - national 09 Reporting entities 10 Controlling and supervising authorities 11
- 21. 21 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE III 1. Introduction (continuation) 12 Financial Intelligence Unit- CFI 13 AML/CFT stakeholders – repressive empirical framework - international 16 Justice department Professioneel Scepticism 18 Relation between Money Laundering and Financing of Terrorism 19 17 Reporting, investigating and prosecuting chain 14 AML/CFT stakeholders – repressive empirical framework - national 15 Police Money flow - origin 20 Money flow - destination 21 Delineation of the training 22
- 22. 22 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE III 2. Cybercrime 01 Introduction Pyramid fraud 11 09 Boiler Room Fraud 10 CEO-fraude 12 Ponzi-fraud 16 Simple and semi-organized cybercrime 04 What is cybercrime? 05 Types of cybercrime 08 Organized cybercrime 07 Categories of cybercrime 06 Financial crime versus van cybercrime Cryptocurrency fraud 13 Binary Options fraud 14 02 Internet – The Final Frontier 03 Cybercrime - situering Ransomware 15
- 23. 23 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 3. Resume Table of contents – MODULE III
- 24. 24 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 24 MODULE4 Typologies MODUSOPERANDI
- 25. 25 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 1. Introduction 01 Objectives of the training 02 Crime time line (contextualization) 05 Money Laundering model : three phases AML/CFT stakeholders – fighting Money Laundering 07 AML/CFT stakeholders – preventive empirical framework - international 08 06 Risk Based Approach - RBA 03 Organization of the fight against ML/FT 04 What is Money Laundering – criminological description AML/CFT stakeholders – preventive empirical framework - national 09 Reporting entities 10 Controlling and supervising authorities 11
- 26. 26 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 1. Introduction (continuation) 12 Financial Intelligence Unit- CFI 13 AML/CFT stakeholders – repressive empirical framework - international 16 Justice department Professioneel Scepticism 18 Relation between Money Laundering and Financing of Terrorism 19 17 Reporting, investigating and prosecuting chain 14 AML/CFT stakeholders – repressive empirical framework - national 15 Police Money flow - origin 20 Money flow - destination 21 Delineation of the training 22
- 27. 27 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 01 Introduction 2. Modus operandi 02 Smurfing - structuring 03 Cash smuggling 04 Transit accounts 05 Gold transactions 06 Diamond transactions 07 Use of strawman 08 Funneling accounts 09 Trusts 10 Non financial professions (legal and cipher professions) 11 International transfers 12 Walking accounts
- 28. 28 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 13 Non-profit organizations 14 Compensation technique 15 Abuse of the insurance sector 16 Abuse of the real estate sector 17 Asset conversion 18 Money Service Businesses 19 Underground banking - Hawala 20 Money Mules 21 Trade Based Money Laundering - TBML 22 Cash-generators 23 Business Recycling – co-mingling 24 Front companies 2. Modus operandi (vervolg)
- 29. 29 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 25 Shell companies 26 Shelf companies 27 Use of sleeping companies 28 Banks 29 Correspondent banking 30 Free Trade Zones 31 New payment methods 32 Pre-paid cards 33 Job offers – “Work-at-home Plans” 34 Casino accounts 35 Laundromat 36 Back-to-back loans 2. Modus operandi (vervolg)
- 30. 30 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 37 Professional Money Laundering Facilitators 38 Company financing 39 Abuse of company structures 40 Complex international company structures 2. Modus operandi (vervolg)
- 31. 31 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 3. Resume Table of contents – MODULE IV
- 32. 32 32 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 32 MODULE5 WORKSHOP– PRACTICALCASES 32 32 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023
- 33. 33 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 1. Introduction 01 Objectives of the training 02 Crime time line (contextualization) 05 Money Laundering model : three phases AML/CFT stakeholders – fighting Money Laundering 07 AML/CFT stakeholders – preventive empirical framework - international 08 06 Risk Based Approach - RBA 03 Organization of the fight against ML/FT 04 What is Money Laundering – criminological description AML/CFT stakeholders – preventive empirical framework - national 09 Reporting entities 10 Controlling and supervising authorities 11 Table of contents – MODULE IV
- 34. 34 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 Table of contents – MODULE IV 1. Introduction (continuation) 12 Financial Intelligence Unit- CFI 13 AML/CFT stakeholders – repressive empirical framework - international 16 Justice department Professioneel Scepticism 18 Relation between Money Laundering and Financing of Terrorism 19 17 Reporting, investigating and prosecuting chain 14 AML/CFT stakeholders – repressive empirical framework - national 15 Police Money flow - origin 20 Money flow - destination 21 Delineation of the training 22
- 35. 35 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 ANALYSIS Predicate crime (categorie – type) Reporting entity RBA-categorie Money Laundering phase Breach AML code Indicators Used ML typologies Money Laundering strategy Modus operandi Actors 2. Elaboration of cases - example
- 36. 36 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 3. Cases 01Case 1 02 Case 2 04Case 4 Case 5 05 Case 6 06 Case 7 07 Case 8 08 03 Case 3 Case 9 09 Case 10 10 Table of contents – MODULE V
- 37. 37 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 4. Resume Table of contents – MODULE V
- 38. 38 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 PREVIEW MODULE 2 Financial and non-financial crime
- 39. 39 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 39 Coining Money Mules Gold Transactions Investments in Stocks Use of Complex International Company Structures Use of Straw Men Use of Off-Shore Companies Smurfing Asset Conversion Cyber Laundering Use of Night Shops Use of E-Gambling Use of Back-to-Back Loans Use of Gatekeepers Underground Banking Use of False Documents Walking Accounts Refining Hawala Theft of Company Assets Trade Based Money Laundering Use of Complex legal and Financial Schemes Use of Loans Insurance Transactions Use of Non Governmental Organizations International Wire Transfers Mortgage Loans Use of Diamond Sector Tax Fraud Bitcoin Use of Change Offices Use of Free Trade Zones Investment in Domestic Companies Use of Shell Companies Use of Money Transfer Services Change Transactions Use of Credit Cards Use of New Payments Methods Bank Fraud Use of Funneling Accounts Use of Mortgage Loans Use of Escrow Accounts Co-Mingling Proliferation Use of Casinos Use of Money Couriers TBML Use of Financial Institutions Investments in Real Estate Cash Generators Use of Sleeping Companies Use of Betting Accounts Cash Generators Transaction Laundering Darknet Cuckoo Smurfing Scriptural Criss Crossing Use of DNFP’s Use of Tax Havens Ukash Use of Off-Shore Credit Cards E-trade Use of Web Money Predicate crimes Integration Layering Typologies according to the predicate crimes T Y P O L O G I E S CATEGORIES M O N E Y L A U N D E R I N G REPORTING ENTITIES MONEY LAUNDERING PHASE BREACH AML/CFT CODE MONEY LAUNDERING STRATEGY JUDGEMENTS MODUS OPERANDI BREACH PRIFESSIONAL OBLIGATIONS PREDICATE CRIMES ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML ML MONEY LAUNDERING TYPOLOGIES
- 40. 40 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 40 PREDICATE CRIMES 2. FINANCIAL CRIME 3. CYBERCRIMINALITEIT 1. NON FINANCAL CRIME MODULE 2
- 41. © G. DELRUE - 2023 41 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES
- 42. © G. DELRUE - 2023 42 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES
- 43. © G. DELRUE - 2023 43 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES CEO FRAUD PYRAMID FRAUD CYBERCRIME AGAINST INDIVIDUALS CYBERCRIME AGAINST INDIVIDUALS PONZI FRAUFD
- 44. BIBLIOGRAGHY 44 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023
- 45. BIBLIOGRAPHY 45 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023
- 46. 46 RECOGNIZING MONEY LAUNDERINGTYPOLOGIES © G. DELRUE - 2023 46 46 Thanks for your attention ! geert.delrue@telenet.be